“Encouraging economic forecasts for Italy”

BRUSSELS – “Indeed, the growth forecasts for Italy after a very significant recession in 2020 are positive and encouraging”, because for the first time in many years, with the recovery, the increase in Italian GDP is in line with that of the EU average. “The main challenge in the coming months and years will be that of implementing the reform and investment programs” of the National Recovery and Resilience Plan (Pnrr), because “the implementation of a plan with this ambition can contribute to growth more prolonged and lasting “, which” does not limit itself to returning to pre-pandemic levels, but continues at a more sustained pace. “This was emphasized today in Brussels by the European Commissioner for Economy, Paolo Gentiloni, presenting the Forecasts in a press videoconference spring economic reports published this morning by the Commission.

«Certainly, since Italy is one of the countries that have had a low growth rate for a long time, the opportunity to have high growth now is of particular importance. Much will depend on the ability that Italy will have to implement the programs, reforms and investments envisaged in the NRP, because this possibility is at stake ”, said the commissioner during the press videoconference.

Later, while meeting the correspondents of the Italian TV networks in Brussels, Gentiloni confirmed that in the forecasts “there are encouraging data, because for the first time in a year some element of optimism about growth prevails over a situation that has so far been of great importance. uncertainty”.

«The European Union – he continued – has a growth rate, both this year and next year, clearly higher than 4%, and Italy in this context has a growth that is in the Eurozone average. This too is news in itself, because we are used to considering Italy as a country that has had very low growth for some decades, and which certainly does not grow at the level of the average of all European countries ». Therefore, he insisted, the prospect “is encouraging at a European level and also for Italy, which finally has an extraordinary opportunity to emerge from a few decades of very low growth”. «Of course – observed the commissioner – we need to be able to seize this opportunity and it will not be easy, but I think it is a very interesting and positive challenge from this point of view. A dose of optimism has arrived: we say, presenting these forecasts, that it is time to roll up our sleeves, connecting the game of these weeks and months, which is the completion of the vaccination campaign, with the commitment to relaunch of the economy. We must avoid – he warned – withdrawing the measures to support the economy too soon, but above all we must take up the challenge of the great recovery plan, of the European funds that will arrive in a very consistent way for Italy; and the main challenge that we will have in the coming months – he repeated – will be to put these programs, these reforms, to these investments in implementation ».

«If we succeed, I believe – continued Gentiloni – that we have a unique opportunity to get out of this long phase of low growth. Here we make forecasts with a horizon of 2022, but it is not enough to go back to the levels we were at the end of 2019. So it will be necessary that this 4 and a half percent growth that we forecast for 2021 and 2022 leaves a follow-up of higher growth than in the past decades even from 2023 onwards, and that this sequel is also made up of quality growth. It is possible, the resources are there, but the administrative and political commitment of the entire ruling class of the country, and of the world of work, is certainly fundamental to make this commitment feasible ».

Then answering a question about the possibility of making the “Sure” program for EU support for national layoffs permanent, the Commissioner added: “‘Sure’ is one of the medals that we can attach to our chest, and I am particularly proud, having been the proponent together with my colleague in Social Affairs Nicolas Schmit, and it was a success. It was basically the anticipation of ‘Next Generation EU’, because the first time we went to issue common debt on the markets it was for the 100 billion ‘Sure’ ».

“In the meantime, in our programs there is now to complete the action, which is not yet 100% completed, and subsequently, based on the progress of ‘Sure’ and its results, open the discussion on whether there are tools to tackle these problems also for the future », concluded Gentiloni.

(with source Askanews)

Source: RSS DiariodelWeb.it Economia by www.diariodelweb.it.

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